President Donald Trump’s policy whims make it difficult for economists to forecast what’s next. Plus: Las Vegas, American furniture manufacturing and adjustable-rate mortgages.
Consumer spending has remained resilient as the top 10% of earners accounted for roughly 50% of consumer spending in the third quarter. But one of the “luxury” goods they are spending it on is simple mixture of salt and cream.
That pesky government shutdown will complicate monetary-decision making, says Chicago Fed president Austan Goolsbee. Plus: food dyes, fiscal years, and funding for small businesses.
The current labor market and a potential shutdown are red flags, yes. But consumer and business spending remain a bright spot. Plus: Agentic shopping, sensory-friendly haircuts, and lumber tariffs.
